BRASIL: Petrobras May Delay Stock Offering; Real Sinks To 19 Month Low.

BLOOMBERG/     Petrobras CEO Jose Sergio Gabrielli may consider a delay selling as much as $25 billion in shares if global equity markets worsen. Petrobras has dropped 15% this month to the lowest level since March 2009. The biggest share sale in the Western Hemisphere in at least a decade had been planned for late July or early August.
There is more bad news for Brasil as its real fell for a sixth day to $1.895, the longest losing streak in 19 months, on speculation that falling commodities will lower exports. And the nation's Bovespa stock index  fell for a sixth day to 58,706.18, its longest losing streaks since October 2008.

Brasil's Bovespa/Real Shrug Off New Tax And Advance.

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“The strong fundamentals for Brasil have not changed,” said Leonardo Kestelman of Dinosaur Securities. Brasil’s 8.75 percent benchmark interest rate means that its fixed-income securities still offer a “premium” over that of developed countries, he said.

Brasil's Stock Exchange Hits 14-Month High, breaking 60,500 Mark.

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Brasil’s stock exchange hit a new 14-month high with a 62% gain so far in 2009.
Global investors are flocking to the country. The benchmark Ibovespa index closed at 60,703 points, breaking the psychologically important 60,500-point mark.